Update on RaphaelRaphael is still doing his business of selling spare parts. He now earns a monthly income of KES 15,200 from his business.
He is applying for his third business loan from Kenya Agency for Development of Enterprise and Technology (KADET).
Raphael plans to use the loan to purchase more spare parts to sell. He will use the proceeds from the business to invest in his child's education.
Previous Loan DetailsRaphael is 29 years old. A businessman, he is married to Jennifer, a business lady. They are blessed with one child. Raphael has been running a spare parts business for the past two years with the monthly income of KES 10,000 which he uses to support his family. He is applying for his loan… More from Raphael's previous loan »
About VisionFund KenyaVisionFund Kenya is dedicated to economically empowering its clients by providing financial services to improve living conditions of micro-entrepreneurs and their children across Kenya. VisionFund Kenya is the microfinance subsidiary of World Vision Kenya. Obtain more information on VisionFund Kenya from its website.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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